Myanmar To Export 300,000 MT To Bangladesh

Accepting Bangladesh's request, Myanmar has agreed to sell nearly 300,000 MT of rice annually to the south Asian neighbor currently fighting severe shortage of rice for its domestic use.

The offer from Myanmar is a timely one as India the main exporter of rice to Bangladesh had banned exports of non-basmati rice last year in order to keep prices stable in India’s domestic market.

India has meanwhile pledged 500,000 MT of non-basmati par-boiled rice to the calamity-hit Bangladesh at an average price of $399 PMT, which would reach Bangladesh in the next two months.